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Nwtn

All articles tagged with #nwtn

business-and-finance2 years ago•0 min saved

"China Evergrande's EV Unit Faces Setback as Share Sale Agreements Expire"

Evergrande New Energy Vehicle, also known as Evergrande Auto, announced that its share subscription and loan conversion agreement with NWTN, a Nasdaq-listed Dubai automaker, has expired without renewal. This development casts uncertainty on the financial future of the Chinese electric-vehicle manufacturer, as the anticipated cash infusion from the deal is no longer expected.

via The Wall Street Journal|

#business-and-finance #electric-vehicles #evergrande-auto

business-and-finance2 years ago•0 min saved

"Evergrande's EV Share Sale Agreements with Global Partners Lapse"

The planned share sale agreement between China Evergrande New Energy Vehicle Group and U.S.-listed NWTN has fallen through as the parties did not extend the long stop date. The deal, initially announced in August, involved Evergrande's EV arm issuing 6.18 billion new shares to NWTN for HK$3.89 billion. With the lapse of the agreement, the intended share and loan conversion subscriptions are no longer valid.

via Reuters|

#business-and-finance #china-evergrande #ev-industry